Mergers & Acquisitions

  • July 27, 2021

    Lynch Extradition Battle Puts SFO Sway In The Spotlight

    Former Autonomy chief Mike Lynch's uphill battle to challenge his extradition to the U.S. for fraud over the $11.7 billion sale of his software firm to Hewlett-Packard is poised to test the influence of the Serious Fraud Office and other U.K. enforcers in such legal fights.

  • July 27, 2021

    UK Antitrust Watchdog Clears IHS Markit, CME Joint Venture

    The Competitions and Markets Authority said on Tuesday that it has cleared a proposed joint venture between the after-trade service subsidiaries of financial information provider IHS Markit Ltd. and CME Group, a derivatives exchange.

  • July 27, 2021

    APi Buys Fire Systems Biz In $3.1B Deal Built By 4 Firms

    APi Group, which owns contracting businesses serving industries like energy and construction, will buy U.K.-based Chubb Fire & Security from Carrier Global at an enterprise value of $3.1 billion, the companies said Tuesday, in a deal guided by four law firms.

  • July 26, 2021

    Challenge To CVR Deal's Details Opens Icahn's Chancery Trial

    Former unitholders of Carl Icahn-affiliated CVR Refining LP worked in court on Monday to show that they had been misinformed about an involuntary buyback alleged to have shortchanged them to the tune of $140 million as a weeklong damages trial opened in Delaware Chancery Court.

  • July 26, 2021

    9th Circ. Tells Court To Redo Lead Plaintiff In Nikola Stock Suit

    The Ninth Circuit has found that a district court skirted the lead plaintiff selection process under the Private Securities Litigation Reform Act in denying a bid by three petitioners to serve as group lead plaintiff in a consolidated shareholder suit against electric truck maker Nikola Corp.

  • July 26, 2021

    Pembina Kills $6.6B Buy As Inter Pipeline Eyes Competing Bid

    Pembina Pipeline Corp. called off its roughly CA$8.3 billion ($6.6 billion) all-stock deal to buy Inter Pipeline Ltd. on Monday, as Inter Pipeline's board signaled its interest in the latest competing bid lobbed by Brookfield Infrastructure.

  • July 26, 2021

    Solarisbank Eyes Expansion With Fintech Merger And $224M

    German banking-as-a-service platform Solarisbank said Monday it raised €190 million ($224 million) in financing and will combine with fellow European banking platform Contis to create "a pan-European banking-as-a-service champion."

  • July 26, 2021

    Goodwin, Kirkland Rep $3B Sale Of Power Transmission Unit

    Kirkland-led ABB said Monday it was selling its mechanical power transmission unit Dodge to Goodwin-guided RBC Bearings Inc. for $2.9 billion in cash.

  • July 26, 2021

    SEC Says Driver Shared Stock Tips From Overheard M&A Talk

    A pair of Texans must pay nearly $100,000 to the U.S. Securities and Exchange Commission after the federal regulator accused them of insider trading, alleging one of them tipped his co-workers after hearing his boss talking about a proposed acquisition of another company in 2018.

  • July 26, 2021

    Dana Gas Wins Arbitration Over Canceled Egypt Asset Sale

    The London Court of Arbitration has handed United Arab Emirates gas company Dana Gas PJSC a win against an IPR Energy Group subsidiary over a canceled onshore oil and gas asset sale that was expected to be worth $236 million.

  • July 26, 2021

    Chancery Denies Fast Track For Iconix Tender Offer Suit

    Delaware's chancellor on Monday denied a proposed class request to fast-track a preliminary injunction bid targeting Iconix Brand Group Inc.'s proposed $585 million go-private acquisition by Lancer Capital LLC, rejecting arguments that the deal violated corporate anti-takeover provisions.

  • July 26, 2021

    O'Melveny Adds Ex-Wilson Sonsini M&A Pro In Silicon Valley

    O'Melveny & Myers LLP announced Monday it has added a mergers and acquisitions attorney who previously worked more than 23 years at Wilson Sonsini Goodrich & Rosati PC as a partner in its Silicon Valley office.

  • July 26, 2021

    Dykema Adds Ex-Exall Corporate Atty In Dallas

    Dykema Gossett PLLC has added a corporate attorney previously with Exall Legal Advisors PLLC who specializes in transactions as senior counsel in its Dallas office, the firm announced.

  • July 26, 2021

    3 Firms Sculpt PerkinElmer's $5.25B Buy Of Life Sciences Co.

    Scientific instrument maker PerkinElmer will pay about $5.25 billion to pick up BioLegend, which provides reagents and antibodies for use in areas including immunology and neuroscience, in a deal shaped by three law firms, the companies said Monday.

  • July 26, 2021

    Wilson Sonsini, Kirkland Guide PE Firm's $6.4B Medallia Buy

    Private equity shop Thoma Bravo, led by Kirkland & Ellis, will pay roughly $6.4 billion to take Wilson Sonsini-represented Medallia private, in a deal announced Monday that comes just over two years after the consumer analytics company went public.

  • July 26, 2021

    The Law360 400: Tracking The Largest US Law Firms

    As much of the U.S. emerges from the worst of the coronavirus pandemic that upended the world last year, law firms are taking stock of how much their business and their bench strength were affected by the unprecedented pressures of a global health crisis.

  • July 26, 2021

    Where Have All The Associates Gone?

    Nonpartner attorney headcounts declined slightly across the Law360 400 last year amid the pandemic, leaving many law firms scrambling for associate talent that seems to be evaporating even as many firms see an uptick in work.

  • July 26, 2021

    Aon, Willis Pull Plug On $30B Merger Plan After DOJ Probe

    Insurance brokers Aon PLC and Willis Towers Watson said on Monday that they will withdraw from a $30 billion mega-merger in the face of the U.S. Department of Justice's antitrust challenge to the transaction.

  • July 23, 2021

    FTC Given Extra Time To File Amended Facebook Complaint

    A D.C. federal court granted the Federal Trade Commission three additional weeks to file its amended monopoly complaint against Facebook Inc., following an FTC extension bid that was not opposed by the social media giant.

  • July 23, 2021

    Pot Co. Moxie's Investors Sue After IPO Plans Bite The Dust

    A group of overseas investment funds has alleged in a Los Angeles state court contract breach suit that multistate marijuana company Moxie owes them and other investors more than $35 million after the company failed to go public by a May 2021 deadline.

  • July 23, 2021

    Air Taxi Startup Beats 'Catastrophic' IP Injunction

    An air taxi startup avoided a "potentially catastrophic" blow to its $3.8 billion deal with a special purpose acquisition company after a California federal judge refused to grant an injunction in its intellectual property battle with a Boeing-backed rival.

  • July 23, 2021

    Tesla Stock Gains Flagged As Missing Point In Chancery Trial

    Testimony on Tesla's "meteoric" stock price increase after its more than $2 billion acquisition of rooftop solar company SolarCity Corp. in 2016 drew an objection Friday in a Delaware Chancery stockholder suit seeking damages from CEO Elon Musk for his allegedly conflicted role.

  • July 23, 2021

    Digital Ad Co. Grabs $160M In IPO After Merger's Demise

    Digital advertising company Outbrain raised $160 million in an initial public offering before kicking off trading Friday, in a debut that came the same day that its former suitor unveiled a new target.

  • July 23, 2021

    €17.8B German Real Estate Merger 'Likely Not Successful'

    Deutsche Wohnen SE said Friday that its planned €17.8 billion ($21 billion) sale to fellow German real estate group Vonovia SE was "likely not successful" after a lackluster response from its shareholders.

  • July 23, 2021

    Axon Wants High Court To Review Challenge Of FTC Authority

    Police body cam maker Axon Enterprise Inc. has asked the U.S. Supreme Court to take up its constitutional challenge of the Federal Trade Commission's structure and authority as the company continues trying to escape an enforcement action over a completed merger.

Expert Analysis

  • New FTC Mergers Approach Raises Risks For Buyers, Sellers

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    In rescinding a 1995 policy statement last week, the Federal Trade Commission likely seeks to more regularly impose "prior approval" obligations for future transactions in its merger cases, which changes the risk profile for buyers and sellers negotiating antitrust provisions in deal agreements, say Jon Dubrow and Noah Feldman Greene at McDermott.

  • Series

    Embracing ESG: Exelon GC Talks Diversity Initiatives

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    Executing a commitment to diversity, equity and inclusion programming, through recruitment, inclusive legal pipelines and community empowerment via pro bono efforts, can ensure a strong environmental, social and governance proposition, says Gayle Littleton at Exelon.

  • Data Trends To Watch In M&A And Competition Investigations

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    With an uptick in mergers and acquisitions and dramatic shifts in the data landscape, practitioners need to understand the myriad emerging trends affecting regulatory oversight, second requests, merger clearance and competition investigations, and avoid data-related problems that might derail deals, say Andrea Levine and Tim Anderson at FTI Consulting.

  • What Food Industry Can Expect After Biden Antitrust Order

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    President Joe Biden's recent executive order will bring an increased focus on competition law from four federal agencies, so food and agriculture companies should anticipate and incorporate changes in their standard operating procedures with respect to antitrust policy and compliance, say attorneys at Faegre Drinker.

  • Recent SPAC Settlement Signals SEC Enforcement Wave

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    The U.S. Securities and Exchange Commission's recent settlement with special purpose acquisition company Stable Road — and its sponsor, CEO and proposed merger target — over false representations to investors illustrates the agency's heightened focus on policing SPAC transactions and should prompt participants to ensure adequate due diligence, say attorneys at Pillsbury.

  • Revamping Law Firm Marketing Lists — With Partner Buy-In

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    Jackson Lewis’ Paige Bowser shares lessons from the firm's recent overhaul of an outdated email marketing database, including tips for getting partners on board, ensuring compliance with privacy laws and augmenting outreach strategies.

  • First 2021 Corporate FCPA Case Offers Compliance Reminders

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    Foster Wheeler's recent Foreign Corrupt Practices Act settlement — the first corporate enforcement action since President Joe Biden took office — highlights the FCPA risks related to public contracting and tenders, the use of third-party agents, successor liability following M&A activity, and the U.S. authorities' aggressive assertion of jurisdiction in international corruption cases, says Robert Johnston Jr. at Lowenstein Sandler.

  • The Murky World Of Legal Rankings Gets Some Clarity In NJ

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    New Jersey's new, stringent approach to legal rankings will make accolade advertising more transparent, benefiting both attorneys and clients and offering legal marketers a new set of best practices amid evolving standards, say Penny Paul at Lowenstein Sandler and Susan Peters at Greybridge.

  • Biden Competition Order May Shift Ocean Carriers' Course

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    President Joe Biden's recent executive order on promoting competition in the American economy has the potential to reshape the shipping business and could mark the beginning of a significant move to increase regulation against unfair, unreasonable and anti-competitive practices by ocean carriers, say attorneys at K&L Gates.

  • Awaiting High Court Answer On Post-Cyan Discovery Issue

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    The U.S. Supreme Court’s forthcoming decision in Pivotal Software v. Tran next term may clarify a question begat by the court’s 2018 Cyan decision — whether the Private Securities Litigation Reform Act’s automatic discovery stay provision applies in state courts — and thereby lessen the burden on parties litigating amid the ambiguity, says Liz Cassady at Steptoe & Johnson.

  • What SPAC Litigation Trends Could Mean For D&O Insurance

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    A look at the last two and a half years of securities litigation related to special purpose acquisition companies suggests that directors and officers insurance policyholders should prepare to confront coverage issues, particularly given the hardening D&O insurance market and the anticipated increase in regulatory oversight, say Huiyi Chen and David Kroeger at Jenner & Block.

  • Series

    Embracing ESG: Cigna Counsel Talks Employee Wellness

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    Building employee well-being into corporate environmental, social and governance priorities required our legal team to focus more closely on cross-functional collaboration within the company and increased communication with our board of directors and shareholders, says Julia Brncic at Cigna.

  • Hybrid Work Models Are Key To Gender Parity In Law Firms

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    To curb the historically high rates of attrition among female lawyers, Roberta Liebenberg at Fine Kaplan and Stephanie Scharf at Scharf Banks suggest firms must normalize hybrid work schedules, and they recommend best practices to promote engagement among all attorneys, regardless of where they work.

  • 6 Things To Know About Cannabis M&A Transactions

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    With cannabis M&A activity continuing strong, deal-makers must familiarize themselves with the industry's unique challenges, including regulatory complexity, working capital and tax issues, and the need for tailored representations and warranties, says Max Bremer at Saul Ewing.

  • 3 Keys To Winning Your Next Oral Argument

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    To leverage the unique opportunity oral arguments provide to talk directly to judges and contribute to their decision making, attorneys must mind the three hallmarks of persuasiveness: projecting credibility, exuding likability and gaining the listener's trust, says Daniel Karon at Karon LLC.

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